568 OLD TOWN MALL
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 10, 2026 | Listed by Real Broker, LLC | $200,000 | |
| Listed by Real Broker, LLC | |||
| Jul 16, 2026 | Listed by Real Broker, LLC | $200,000 | |
| Listed by Real Broker, LLC | |||
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Rent roll of $15,000 a month once renovated and set up one day is possible. Rare redevelopment opportunity in the heart of historic Old Town Mall, one of Baltimore’s most iconic commercial corridors and widely recognized as one of the oldest outdoor shopping malls in the country. Located just minutes from Johns Hopkins, 568 Old Town Mall offers exceptional potential in an area already undergoing major public and private revitalization.
This three-level property was formerly a long-standing liquor store and now presents an exciting opportunity for an investor, developer, or owner-user to bring new life to a historic Baltimore address. The property is positioned within a C-1 zoning district, with architectural drawings and permit-set materials showing a proposed mixed-use concept with business use on the ground floor and R-4 residential care facility use on the upper levels.
The proposed plans include flexible first-floor space with reception, offices, open space, bath, utility areas, and galley kitchen. The second and third floors are designed for residential care facility use, with multiple bedrooms, bathrooms, laundry areas, and support spaces. The plans also include life-safety elements such as fire sprinkler protection, fire alarm, rated separation, and multiple egress considerations.
The property offers front and rear access and may also be purchased with the directly adjacent property, creating an opportunity for an expanded footprint and additional redevelopment possibilities.
Old Town Mall is the focus of a major city-supported redevelopment effort aimed at restoring business access, enhancing the streetscape, preserving historic character, and creating a safer, more vibrant community destination. With significant public/private investment and grant funding tied to the area’s revitalization, this is a rare chance to be positioned early in a transforming Baltimore corridor.
Historic and architectural documentation is available, including CHAP-related materials and permit-set drawings addressing storefront restoration, windows, roofing, interior reconstruction, mechanical, plumbing, electrical, fire alarm, and sprinkler systems.
Bring your vision to one of Baltimore’s most historic redevelopment corridors and be part of the next chapter of Old Town Mall.
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| Apr 18, 2023 | Sold | ||
| Sold | |||
| Oct 9, 2019 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017